Angel Studios Q2 2026: Guild Revenue Surges 94%, Membership Doubles, Cash Flow Turns Positive
ANGX has more than doubled off its 52-week low of $2.045.
Summary
Angel Studios reported Q2 2026 results with Guild revenue up 94% to $90.7M, membership doubling to 2.61M, and a swing to positive operating cash flow of $16.9M. Marketing efficiency improved sharply, and the company reiterated its full-year Adjusted EBITDA loss guidance of no more than $25M.
Key Events · Earnings and Guidance · ANGX
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Guild Revenue Surges 94%
Guild revenue reached $90.7 million in Q2 2026, up 93.8% year-over-year, driven by a 99.2% increase in paying members to 2.61 million. Guild revenue now represents 81.2% of total company revenue.
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Marketing Efficiency Improves Sharply
Guild selling and marketing expense fell to 52.8% of Guild revenue from 71.6% in Q2 2025, even as membership growth accelerated. This drove a $27.5 million year-over-year improvement in operating cash flow to positive $16.9 million.
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Positive Operating Cash Flow Achieved
Operating cash flow swung from negative $10.6 million in Q2 2025 to positive $16.9 million in Q2 2026, reflecting the combination of strong revenue growth and improved marketing efficiency.
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Full-Year Guidance Reiterated
Management reiterated its target to reduce full-year 2026 Adjusted EBITDA loss to no more than $25 million, implying continued improvement in the second half of the year.
Analysis · ANGX · Trade & Services
A breakout quarter for Angel Studios. Guild revenue jumped 94% year-over-year to $90.7 million, fueled by a near-doubling of paying members to 2.61 million. The model is scaling efficiently—marketing spend as a share of Guild revenue dropped from 72% to 53%, and the company generated $16.9 million in positive operating cash flow, a $27.5 million swing from last year. With $48 million in cash and a reiterated full-year Adjusted EBITDA loss target of no more than $25 million, the company is funding growth while narrowing losses. The concurrently filed 10-Q confirms these trends and shows a strengthened balance sheet after recent capital raises.
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In the 30 days to Oct 1, 2026, 35.9% of the 1030 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, ANGX was trading at $4.21 on NYSE in the Trade & Services sector, with a market capitalization of approximately $831.4M. The 52-week trading range was $2.05 to $60.00. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.